This was a rough way to make money this morning. My morning routine was all jacked up this morning and it really showed with my trading. First play was decent with the buy at the 20 SMA...kind of a gamble. Second play was a pb that didn't hold. Third play was a pop under the VWAP.
Execution detail:
Second trade: I got stopped out, third: I didn't know that it wouldn't break down but it was close to being oversold and it had been flirting with the VWAP. I just wanted to get out for a little bit and wait for a better setup.
Cristy do you use stochastics for intraday too?
Yes I do but they don't always give you the right indication that something will go long/short unless they are severely over sold/over bought.
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Second trade: what was your reason to exit? Did you get stopped out or did you exit early for another reason?
Third trade: what was your reason to exit? How did you know it wouldn't break down?
Thank you!